China exports a lot. The libs on lemmy are lying to themselves if they don’t think this is going to hurt China in any way. It’s likely going to be harder on them in fact.
Yes, they export a lot, but this would only be to one country. The US is likely their biggest trade partner by a large margin, but they could still trade with 176 other countries.
It will hurt them but not cripple them. The US gets SO MANY things from China that it would cripple our country. Every computer chip outside of the TSMC fabs, every junk toy, half our clothing, tons of car parts, everything sold at Harbor Freight and Home Depot, cell phones, etc. They’ll still be able to sell those to the rest of the world, but the US would have to switch up our entire global supply chain. It would take years to recover.
Yes, they export a lot, but this would only be to one country. The US is likely their biggest trade partner by a large margin, but they could still trade with 176 other countries.
You say that like they aren’t already. Are those 176 other nations prepared to make up the slack that the US isn’t buying?
It will hurt them but not cripple them.
This was, in fact, what I said. That it would hurt them. People seem to be reading some fan-fiction version of what I said that involves the US destroying China or something.
China’s financial instability and housing market issues are going to make them vulnerable. That said, the world does more trade with China than America thanks to global Western companies outsourcing all their manufacturing there (thus screwing blue collar workers in their home countries).
That same world is now slightly more interested in punishing America thanks to the Trump regime. If he doesn’t revert to previous agreements in the next 6 weeks or so, then I’d expect a global recession is coming not too far down the track.
I would say at this point the global recession is coming even if he would revert to the previous agreements because you can’t just regain trust like that.
Meh finance people are pretty forgiving as long as the money is streaming in. Which is part of why they’re not trust worthy.
But yes, Trump has damaged perceptions of the US as a stable democracy no matter what. So whether he leaves peacefully and wherher people further left get back in and make amendments against future trumps is the real decider of the future of the world.
Given he’s already aligned himself with Steve Bannon’s third term idea, it’s not looking good for the future of Pax Americana.
Next up: A mix between Pax Europa and Pax Sinica (China).
Everyone will be hurt badly by this, it is just the US that will be hurt worst of all because they started a trade war with literally everyone at the same time AND turned themselves into a hostile environment for migrant labor AND reduced spending on education.
The US also based their global economic position on the fact that they were the only major country left standing after World War II. The rest of the world has rebuilt itself since then but America stayed on top because they were too big to fail. If they fail anyway they’re never going to recover, since the circumstances that they originally benefited from don’t exist anymore.
China exports a lot. The libs on lemmy are lying to themselves if they don’t think this is going to hurt China in any way. It’s likely going to be harder on them in fact.
Yes, they export a lot, but this would only be to one country. The US is likely their biggest trade partner by a large margin, but they could still trade with 176 other countries.
It will hurt them but not cripple them. The US gets SO MANY things from China that it would cripple our country. Every computer chip outside of the TSMC fabs, every junk toy, half our clothing, tons of car parts, everything sold at Harbor Freight and Home Depot, cell phones, etc. They’ll still be able to sell those to the rest of the world, but the US would have to switch up our entire global supply chain. It would take years to recover.
You say that like they aren’t already. Are those 176 other nations prepared to make up the slack that the US isn’t buying?
This was, in fact, what I said. That it would hurt them. People seem to be reading some fan-fiction version of what I said that involves the US destroying China or something.
Haven’t seen anyone saying that.
China’s financial instability and housing market issues are going to make them vulnerable. That said, the world does more trade with China than America thanks to global Western companies outsourcing all their manufacturing there (thus screwing blue collar workers in their home countries).
That same world is now slightly more interested in punishing America thanks to the Trump regime. If he doesn’t revert to previous agreements in the next 6 weeks or so, then I’d expect a global recession is coming not too far down the track.
I would say at this point the global recession is coming even if he would revert to the previous agreements because you can’t just regain trust like that.
Meh finance people are pretty forgiving as long as the money is streaming in. Which is part of why they’re not trust worthy.
But yes, Trump has damaged perceptions of the US as a stable democracy no matter what. So whether he leaves peacefully and wherher people further left get back in and make amendments against future trumps is the real decider of the future of the world.
Given he’s already aligned himself with Steve Bannon’s third term idea, it’s not looking good for the future of Pax Americana.
Next up: A mix between Pax Europa and Pax Sinica (China).
This is hard on the whole world in a way that nobody is going to come out hurt less in any meaningful way.
Only one country doesn’t see that.
Everyone will be hurt badly by this, it is just the US that will be hurt worst of all because they started a trade war with literally everyone at the same time AND turned themselves into a hostile environment for migrant labor AND reduced spending on education.
The US also based their global economic position on the fact that they were the only major country left standing after World War II. The rest of the world has rebuilt itself since then but America stayed on top because they were too big to fail. If they fail anyway they’re never going to recover, since the circumstances that they originally benefited from don’t exist anymore.
Isn’t export to the US only like 3% of Chinas gdp though?
Reply to some of these comments big guy cmon
I owe them and you absolutely nothing.